Venice’s Debt Republic: The Blueprint for Modern Financial Empires
Автор: Economic History Lab
Загружено: 2025-12-22
Просмотров: 3
Описание: In medieval Europe, Venice had no farmland, no mines, and barely 100,000 people—yet it out-financed empires by turning itself into a “debt republic.” This episode follows how the Venetian elite invented prestiti, lifetime government bonds sold to their own citizens, using them to fund war fleets, blockade Byzantium, and quietly seize control of trade routes and tax flows across the Mediterranean. We then track how that same debt-based model slowly inverted: from funding expansion for the whole republic to locking ordinary Venetians into a permanent system of oligarchic extraction and interest payments. Finally, we connect Venice’s blueprint to today’s financial city-states—Singapore, Luxembourg, Switzerland—that manage trillions in global capital despite tiny populations, and ask what happens when a debt republic runs out of new worlds to finance.
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